It seems quite clear to me that Grimsby Town are a long, long way from having a new stadium.

It would not surprise me if the club is still at Blundell Park five years from now, maybe 10.

The stadium saga has become one of the longest running, unresolved issues in local history.

Few imagined that when the Great Coates masterplan looked a feasible proposition back in the mid-to late-1990s that we would still be talking about ifs, buts and maybes nearly a quarter of a century later.

Great Coates was, in my view, the best site and best chance for a new ground.

Riding the wave of enthusiasm after the 1997-98 Wembley double, which came at a time when the retail economy was expanding, was the moment to strike.

The A180 interchange looking towards Great Coates village with the proposed site of the Grimsby Town stadium and the artist's illustration of the new stadium superimposed

The location had great transport links, was accessible for home and away fans and had bags of space. It was a good distance from the village despite some residents' misguided fears that mobs of hooligans would be rampaging through it.

But local opposition and council prevarication delayed the process, backers withdrew and the plan eventually petered out.

With Freemo not handicapped to the same extent by Nimby opposition and indeed helped by council and Freeman backing the path to a new ground has on paper become easier. The site has been cleared and sits waiting.

But the current favourite has the same problem as its predecessors – who is going to pay for it? That's a question that nobody has answered.

With big retail in decline, and consolidation rather than expansion the sector buzzword, the chances of an enabling development look remote.

How a new GTFC stadium could look within the Freeman Street regeneration plan (Image: Hodson Architects)

There would need to be a lot of "creative accounting" to get public money behind the project while extensive property development would constrain both the footballing activities and parking provision.

The question of why a new stadium is needed also has to be asked.

Many fans would savour the prospect of a shiny, brand new home with an increased capacity.

The argument goes that it would boost gates and attract better players. That is not a given. It's a chicken and egg situation.

The club would argue that having the budget to bring in better players depends on commercial income.

Once built and paid for any stadium would have to be so designed to produce increased revenue streams, such as by corporate entertainment, premium parking, rents and events – the sort of things they can't do on any scale at Blundell Park because of the size of the site.

A new stadium could produce increased revenue streams which are not possible at Blundell Park (Image: Pete Norton/Getty Images)

So what about new investors? Getting a foreign billionaire on board is a pipedream, they are only interested in the Premier League or clubs with the potential to reach it.

Other hard-nosed investors would want a return for their cash, a prospect that looks remote from a bottom tier football club.

Which leaves us with Town fans who have made a lot of money and are prepared to make an emotional choice. We've had such a man in John Fenty who has made sure the club has survived but feels he's done enough. We had another in Mike Parker whose large investment and plans for the club did not lead to the changes he wanted and he subsequently quit the board and donated shares to the Supporters Trust.

Though there has been interest, there are no serious investors out there, according to Mr Fenty.

And without the money, from private, commercial or public sources, there will be no ground.